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Sport picks James Dolan wants to separate his basketball and hockey businesses
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Madison Square Garden Sports may split into two divisions. James Dolan`s Madison Square Garden Sports owns the Knicks and Rangers. The Board of Directors approved consideration of the project to separate the basketball and hockey areas. We want to create additional opportunities for our shareholders by dividing the clubs according tennis predictions into two different companies.
We believe that such a procedure will help provide each area with greater strategic flexibility, identify key business interests and make the situation more transparent for investors, " Dolan said.
A source within the organization explained to the NY Post that the plan is not related to attempts to take the companies private or sell one of the teams.
This is not the first precedent for the fragmentation of Dolan`s business interests. In 2020, it separated the sports division from the entertainment divisions that previously coexisted under the Madison Square Garden Company.
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